BSV hit a high of 156 USD today before falling to 149. Over the last seven days it had increased market cap by over 60%. Over 30% in the last 24 hours. This has sent jubilation and panic into the supporters and detractors of BSV.
If you read the recent post, the reason for the rise was developments in Craig Wright legal case.
https://www.newsbtc.com/2020/01/10/bitcoin-sv-bsv-explodes-29-on-tulip-trust-fears-ease/
https://beincrypto.com/bitcoin-sv-pump-wright-kleiman-case-developments/
https://www.fxstreet.com/cryptocurrencies/news/bsv-usd-explodes-after-tulip-trust-update-202001101617
Well, nothing has been revealed and nothing has changed! So why should BSV supporters suddenly pump the price by buying big? At this point most of the early adopters have invested into their favorite coins and over the last 2 years since BTC peaked at 20,000 no new money have come into the industry. Movements in values have mostly been the result of speculation and hodlers moving between coins on pure speculation.
Something has changed with BSV since mid December it has started tracking higher against BTC, going against the trend. Something has changed.
Since its' inception a year ago it has been under attack from almost every quarter of the crypto community mainly because of the mercurial personality of Craig Wright, and it has been largely successful till now.
Why now? It is because Crypto is all about technology. Like Google and Facebook, the best technology in the space wins and dominates completely. So why has BTC not done so? Why BSV? The answer is because BSV is the real McCoy. BCH and BTC are the Forks! After Febuary 4 2020 BSV will have unlimited block size and unlimited scaling potential.
Remember that we had 2 years of blocksize debate before BCH branched off to 2 megabytes blocks. It is all about being able to scale because only then enterprise level applications can become viable. The other necessity for enterprise adoption is a stable protocol. You can't write huge software applications only to rewrite them again when the protocol changes. After February 4 BSV protocol will be set in stone meaning that all applications written will always be backward compatible. There will be improvements to the BSV protocol but the base layer will be stable.
This is the reason for BSV price rise. Hedge fund money is coming into the space.
https://micky.com.au/bitcoin-sv-spikes-20-as-hedge-fund-believes-satoshi-story/
The first of these hedge funds Unbounded Capital has moved into the space. Make no mistake. Others are taking notice. Crypto use to follow BTC but BSV is begining to decouple. Small increments from December 18 but the swings will widen.
There will only be one winner.
This is the nature of Crypto. It will mimic the development of the internet. Before the dominance of the internet, intranet was all the craze. Every company wanted their own permission and private intranet. The problem with any closed system is that development stagnates. No matter how large a company, it can never match the power of open source permission less development.
The first condition of a permission less platform in Crypto is a stable platform. This means that no group of developers will have the ability to change the protocol. This is what BSV will become. With a stable platform and unlimited scaling, it will be the only crypto left standing when the dust settles. All the rest will just become curiosity coins.
If you read the recent post, the reason for the rise was developments in Craig Wright legal case.
https://www.newsbtc.com/2020/01/10/bitcoin-sv-bsv-explodes-29-on-tulip-trust-fears-ease/
https://beincrypto.com/bitcoin-sv-pump-wright-kleiman-case-developments/
https://www.fxstreet.com/cryptocurrencies/news/bsv-usd-explodes-after-tulip-trust-update-202001101617
Well, nothing has been revealed and nothing has changed! So why should BSV supporters suddenly pump the price by buying big? At this point most of the early adopters have invested into their favorite coins and over the last 2 years since BTC peaked at 20,000 no new money have come into the industry. Movements in values have mostly been the result of speculation and hodlers moving between coins on pure speculation.
Something has changed with BSV since mid December it has started tracking higher against BTC, going against the trend. Something has changed.
Since its' inception a year ago it has been under attack from almost every quarter of the crypto community mainly because of the mercurial personality of Craig Wright, and it has been largely successful till now.
Why now? It is because Crypto is all about technology. Like Google and Facebook, the best technology in the space wins and dominates completely. So why has BTC not done so? Why BSV? The answer is because BSV is the real McCoy. BCH and BTC are the Forks! After Febuary 4 2020 BSV will have unlimited block size and unlimited scaling potential.
Remember that we had 2 years of blocksize debate before BCH branched off to 2 megabytes blocks. It is all about being able to scale because only then enterprise level applications can become viable. The other necessity for enterprise adoption is a stable protocol. You can't write huge software applications only to rewrite them again when the protocol changes. After February 4 BSV protocol will be set in stone meaning that all applications written will always be backward compatible. There will be improvements to the BSV protocol but the base layer will be stable.
This is the reason for BSV price rise. Hedge fund money is coming into the space.
https://micky.com.au/bitcoin-sv-spikes-20-as-hedge-fund-believes-satoshi-story/
The first of these hedge funds Unbounded Capital has moved into the space. Make no mistake. Others are taking notice. Crypto use to follow BTC but BSV is begining to decouple. Small increments from December 18 but the swings will widen.
There will only be one winner.
This is the nature of Crypto. It will mimic the development of the internet. Before the dominance of the internet, intranet was all the craze. Every company wanted their own permission and private intranet. The problem with any closed system is that development stagnates. No matter how large a company, it can never match the power of open source permission less development.
The first condition of a permission less platform in Crypto is a stable platform. This means that no group of developers will have the ability to change the protocol. This is what BSV will become. With a stable platform and unlimited scaling, it will be the only crypto left standing when the dust settles. All the rest will just become curiosity coins.
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